There are two dueling propositions for giving the economy a healthy shot in the arm in Washington right now. The Republicans are championing the approval of the Keystone pipeline, which would carry Canadian oil down through the US to Louisiana, where it can be refined and/or shipped wherever in the world the oil’s owners (not the pipeline owners) choose to sell it. This would, by most estimates, almost instantly create about 20,000 good-paying jobs. These would not require any government investment, simply saying “yes.” Private industry is ready and willing — nay, eager — to start spending.
Plus there’s the “trickle-down” effect like we’re seeing in North Dakota, as those people who’ll start making those big bucks will start spending it. Plus all the equipment, machinery, parts, and whatnot will also bring in big spending.
Meanwhile, the Democrats have their own plan to create more jobs. It’s a two-part plan. Part one is to extend unemployment benefits beyond the roughly two years already in law, paying people even longer to not work. The other part is to jack up taxes on the wealthiest, pouring more money into federal coffers. Then the Washington bureaucrats can then give away the money to select favored companies, like Solyndra and LightSquared and George Soros-backed Brazilian offshore oil drilling. That’s after, of course, the bureaucrats get their cut, and members of Congress use their inside info to make killings in stock buys.
Here’s the scary part: to a lot of liberals, the second option actually makes more sense. They actually seem to believe that the economy will benefit more from the Obama plan than just letting private industry spend and build things.
I think I need to head over to the MythBusters web site. I need to buy a case of their “I reject your reality and substitute my own” T-shirts and send them down to DC.